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Average Student Loan Debt for a Pharmacist

The average student loan debt borrowed to pay for pharmacy school was $166,528 in 2018. The median annual pay was $126,120.

The average student loan debt for students graduating with a Doctorate in Pharmacology in 2018 was $166,528, according to a survey from the American Association of Colleges of Pharmacy. This is on top of the $28,565 average student loan debt for undergraduates.

  • Pharmacist student loan repayment

Financial aid for pharmacy school

Paying for pharmacy school without debt can be challenging. Six to eight years of higher education on top of four years as an undergrad is expensive. There are ways to lower your costs, though, so you can reduce the number of years you’ll spend paying off medical school debt after you graduate.

Choosing your school

Begin by researching pharmacy schools and their tuition costs. Take financial aid offers into account when choosing your school, and look for schools that fit your financial situation.


Scholarships are free money, so you should always exhaust your options for this type of funding before taking on debt. Search for pharmacy student scholarships applicable to your location, school, interests, or demographics to offset your costs each semester.

Student loan options

If you need to borrow money to pay for pharmacy school, you can check out our guide to the best student loans for pharmacy school.

Pharmacist student loan repayment

Once you leave school, most lenders give you a six-month grace period before you’re required to start repaying your student loans.

Federal student loan repayment programs

Federal government programs offer student loan repayment assistance for health care workers who commit to public service. These include:

State loan repayment program (SLRP)

Supported by the NHSC, the State Loan Repayment Program (SLRP), provides cost-sharing grants to states and territories to operate their own loan repayment programs.

Income-driven repayment plans

For a more manageable monthly payment, you can apply for an income-driven repayment plan for your federal loans.

Student loan forgiveness

Pharmacists may be eligible for Public Service Loan Forgiveness of federal student loan debt based on employment.

Refinancing Options

You can save money and simplify repayment of your federal or private loans by refinancing to a private loan with a lower interest rate, longer repayment term, or both.

With the help of LendEDU’s blog, tools, and resources, our goal is to assist you in making educated financial decisions. LendEDU: Educated Financial Decisions.